Yuga Labs has announced a restructuring that has seen several roles “eliminated across the company”. CEO Daniel Alegre suggested the firm had taken on too many projects that were ultimately distracting it from its “core priorities”. Moving forward, Alegre outlined that the firm will ramp up its focus on community building, “going all-in” on its Otherside metaverse project and securing brand partnerships.

Nike’s Web3 unit .SWOOSH has unveiled its first physical sneaker line called the Air Force 1 Low TINAJ. The sneakers contain a mixture of white and black panels and features blue .SWOOSH logos. The sneakers will only be available to .SWOOSH members who purchase and open at least one OF1 Box NFT before the Oct. 16 deadline.

Surging NFT trading volume on the gaming-focused Mythos Chain has seen the network surpass Polygon and Solana to become the second largest blockchain in terms of NFT sales volume over the past 30 days. Nearly all of the trading volume from Mythos Chain is coming from DMarket, an NFT marketplace that hosts NFTs from a list of games affiliated with Mythical Games, the firm behind the Mythos Chain.

Starbucks has released an open-edition set of Pumpkin Spiced Latte NFTs on the Nifty Gateway marketplace. The NFTs cost $20 apiece and went up for sale on Oct. 5, and will be available until Oct. 9. The NFTs are part of the coffee chain’s Web3 loyalty rewards program called Starbucks Odyssey, which features NFT stamps that can be collected to earn points and specific rewards.

Hong Kong-based crypto-focused venture capital firm CMCC Global raised $100 million to support Asian blockchain startups. Dubbed the Titan Fund, it will concentrate on investments in key areas: blockchain infrastructure, consumer applications like gaming and NFTs, and financial services, including exchanges, wallets and platforms for lending and borrowing.

PayPal has made major progress toward creating its own blockchain ecosystem by filing a patent application for a NFT purchase and transfer system. The application, filed in March and published Sept. 21, describes a means of carrying out transactions with NFTs, both on- and off-chain.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Web3 Gamer., PayPal, Rob Hisrad, CMCC Global, Daniel Alegre, Deadmau5, Titan Fund
Companies	Nike’s Web3 unit .SWOOSH, Yuga Labs, CMCC Global, Web3 Gamer, Formula E, Nifty Gateway, PayPal
Currencies	US Dollar, Ethereum, DarkMeta, Bitcoin, NFT Stars
Securities	None